KUALA LUMPUR (June 3): MMC Corp Bhd, whose share price has soared nearly 30% over the past two weeks, is said that its controlling shareholders intend to take the conglomerate private through selected capital repayment.
The group’s shares and warrants have been suspended from trading at the noon break. It climbed 10 sen in the morning trading session.
Market talk has it that the diversified group, which has not been undervalued, is subject to a privatisation exercise via a selective capital reduction of about RM1.80 to RM2 per share.
Sources familiar with the exercise said the privatisation is to pave the way for a bigger restructuring exercise that could involve the listing of its port business.
MMC Corp shares were last traded at RM1.30, valuing it at RM3.96 billion.
I'm out at 200 and 185 . Good luck to others . I have been in zelan for sometime been holding for 2 years , time to take profit. This is good company , tho who want to invest can buy and keep.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Mikecyc
46,719 posts
Posted by Mikecyc > 2021-04-03 08:03 |
Post removed.Why?